EP.19 - Profit & Loss Loans Explained: How Self-Employed Borrowers Get Approved Without Tax Returns

We break down one of the most powerful non-QM loan products available today: the Profit and Loss (P&L) Loan. If you own a cash-heavy business—like a nail salon, restaurant, auto shop, or any service-based operation—and your tax returns don’t reflect your true income, this episode is for you. Whether you’re looking to purchase your first home, refinance existing debt, or invest in real estate, this episode breaks down exactly how the P&L loan works, what you need to qualify, and why non-QM lending is no longer “subprime What You’ll Learn in This Episode:• What a Profit & Loss (P&L) loan is and how it works for self-employed borrowers• Why traditional banks and even bank statement loans fall short for cash-heavy businesses• The difference between audited vs. unaudited P&L statements and how they affect your rate• Real success story: Nail salon owner qualifies for a $1.4M home purchase with a P&L loan• How a P&L cash-out refinance helped a business owner eliminate $2,500/month in credit card debt• Down payment requirements, credit score guidelines, and rate factors for non-QM P&L loans• How to use business funds for your down payment and closing costsWhether you’re self-employed, a real estate investor, or a business owner who’s been turned down by traditional lenders—we specialize in finding the right loan for your situation.🌐 Visit us: https://seimortgage.com/📞 Schedule a free consultation to see if a Profit & Loss loan, bank statement loan, DSCR loan, or other non-QM product is right for you.https://calendly.com/ryan-elendingteam/self-employed-or-investor-consultation⭐ If this episode helped you, SUBSCRIBE, leave a 5-star review, and share it with a fellow business owner or investor who needs to hear this!All information provided in this podcast is for educational and informational purposes only. Nothing in this episode should be interpreted as: Legal advice Financial advice Tax advice Real estate advice A commitment to lend An offer, quote, or guarantee of loan terms Loan guidelines, program availability, rates, underwriting rules, and qualification methods — especially for Non-QM mortgage programs — can change at any time and may vary by lender, investor, market conditions, and state regulations. Examples given are hypothetical and may not reflect actual terms available to any borrower. Listeners should independently verify all calculations, assumptions, and program details with qualified professionals. Always consult with a licensed mortgage lender, real estate agent, CPA, financial advisor, or attorney before making decisions related to home financing, investing, or credit. This podcast is not affiliated with, endorsed by, or acting on behalf of Fannie Mae, Freddie Mac, FHA, VA, HUD, or any government agency. No government agency has reviewed or approved the content of this recording. The Turkey Foundation, Inc. 1805 E Garry Ave, Santa Ana, CA 92705 Equal Housing Lender